Beijing is ‘Billionaire Capital of the World’

As of Jan. 31, there are 2,694 billionaires in 68 countries, an additional 437 billionaires since last year

Beijing has the highest number of billionaires for the third year in a row with 131.
AFP/GETTY IMAGES

Beijing has the highest number of billionaires for the third year in a row with 131.

AFP/GETTY IMAGES

The number of billionaires around the world is rising rapidly, according to the Hurun Report’s 2018 Rich List, with China leading the pack.

As of Jan. 31, there are 2,694 billionaires in 68 countries, an additional 437 billionaires since last year, which amounts to an annual increase of 19.4%.

At 819 billionaires, China not only has the most by far, it is also gaining new ones at the fastest rate, having welcomed 210 new billionaires in the last year. Additionally, Beijing gained Hurun’s title of "Billionaire Capital of the World," as the home of 131 billionaires.

The United States has the second-highest number of billionaires at 571, but the country only added 19 new billionaires in the last year.

In terms of national ranking, India comes in a distant third with 131 billionaires, accounting for an increase of 31 billionaires in the last year. It moved up a spot, from fourth place in 2017. Mumbai took the eighth spot in the city ranking, with 55 billionaires.

Although nearly all countries ranking in the top 27 saw an increase in billionaires over the past year, there are a few exceptions. Austria, with 12 billionaires, saw no change. South Korea, home to 33 billionaires, decreased by one. The Philippines went down to 12 billionaires from 14.

While Beijing holds the top spot amongst cities, it is not the only Chinese metropolis home to billionaires. Hong Kong and Shenzhen come in third and fourth, respectively. Shanghai is tied with London for fifth place. New York, the only American city in the top 10, has 92 billionaires.

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